GBP/AUD set to rally if AUD CPI comes in weak

21. April 2015 · Write a comment · Categories: EDGE Chart of the Day · Tags: , ,

Tonight at 9:30PM ET Australia is set to report CPI data, and as you can see below inflation has consistently ticked lower the last few quarters:

4-21-15AUDCPI

 

The GBP/AUD has been in a tight consolidation recently, and as you can see (blue lines) we have have had some very consistent rallies while in this solid up channel (yellow):

 

4-21-15GBPAUD

 

Blake Morrow

Chief Currency Strategist, Wizetrade

 

Disclaimer: I do not have a position in the GBP/AUD currently, but may establish a trade after tonight’s data release

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